JELD-WEN (NYSE:JELD) Shares Gap Up on Insider Buying Activity

Shares of JELD-WEN Holding, Inc. (NYSE:JELD) gapped up before the market opened on Friday after an insider bought additional shares in the company. The stock had previously closed at $10.28, but opened at $10.85. JELD-WEN shares last traded at $10.90, with a volume of 106,025 shares trading hands.

Specifically, major shareholder Turtle Creek Asset Management purchased 200,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was purchased at an average cost of $10.48 per share, with a total value of $2,096,000.00. Following the transaction, the insider now owns 11,941,452 shares in the company, valued at approximately $125,146,416.96. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Turtle Creek Asset Management purchased 450,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were purchased at an average cost of $10.06 per share, with a total value of $4,527,000.00. Following the completion of the acquisition, the insider now owns 11,751,912 shares in the company, valued at approximately $118,224,234.72. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here.

Analysts Set New Price Targets

A number of brokerages have issued reports on JELD. UBS Group cut their target price on shares of JELD-WEN from $19.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday. Royal Bank of Canada cut their price objective on JELD-WEN from $13.00 to $9.00 and set an “underperform” rating for the company in a report on Wednesday. Jefferies Financial Group lifted their target price on JELD-WEN from $15.00 to $17.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. B. Riley reduced their price objective on shares of JELD-WEN from $17.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Loop Capital dropped their target price on shares of JELD-WEN from $17.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $14.90.

JELD-WEN Stock Up 6.0 %

The stock has a market cap of $921.49 million, a P/E ratio of -5.61 and a beta of 2.25. The company has a current ratio of 2.03, a quick ratio of 1.33 and a debt-to-equity ratio of 1.53. The firm’s fifty day moving average is $14.64 and its 200 day moving average is $14.99.

JELD-WEN (NYSE:JELD) last announced its earnings results on Monday, November 4th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.08). The business had revenue of $934.70 million for the quarter, compared to the consensus estimate of $990.64 million. JELD-WEN had a negative net margin of 3.98% and a positive return on equity of 11.97%. JELD-WEN’s revenue for the quarter was down 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.53 EPS. As a group, equities research analysts forecast that JELD-WEN Holding, Inc. will post 1.29 EPS for the current year.

Hedge Funds Weigh In On JELD-WEN

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in shares of JELD-WEN in the second quarter valued at $30,000. Allspring Global Investments Holdings LLC grew its stake in shares of JELD-WEN by 790.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,165 shares of the company’s stock worth $46,000 after purchasing an additional 1,922 shares during the period. Blue Trust Inc. increased its holdings in JELD-WEN by 79.8% in the third quarter. Blue Trust Inc. now owns 2,893 shares of the company’s stock valued at $46,000 after purchasing an additional 1,284 shares during the last quarter. nVerses Capital LLC acquired a new position in JELD-WEN in the second quarter valued at about $92,000. Finally, MQS Management LLC bought a new position in JELD-WEN during the third quarter worth about $160,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

JELD-WEN Company Profile

JELD-WEN Holding, Inc designs, manufactures, and sells wood, metal, and composite materials doors, windows, and related building products in North America and Europe. The company offers a line of residential interior and exterior door products, including patio doors, and folding or sliding wall systems; non-residential doors; stile and rail doors; and wood, vinyl, and wood composite windows.